BlockBeats News, February 11th, Binance founder CZ stated in an interview on the All-In podcast that, “I first met SBF at a Singapore conference in 2019. FTX had proposed to establish a Joint Venture (JV), which was initially rejected. A later proposal led to Binance’s investment in acquiring a 20% stake in FTX. During this process, some issues arose, including malicious denigration and poaching of employees. In July 2021, we withdrew our investment, and we were not deeply involved investors. There is currently ongoing litigation, and it is unclear about FTX’s bankruptcy proceedings and compensation.”
Furthermore, CZ revealed that applying for a pardon requires a lawyer to draft a petition, stating reasons such as whether there has been overprosecution, and whether the individual has good conduct. The final decision-making power lies entirely with the U.S. President, and there is no fixed or standardized procedure. Historically, most U.S. Presidents have usually issued pardons on the last day of their term, but Biden has also issued “preemptive pardons.” CZ believes that obtaining a pardon is crucial for Binance to enter the U.S. market smoothly and compliantly. He also believes that the legal issues faced by Trump himself may help to some extent in the success of the pardon application.”
